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|Title:||Estimating the long-term effects of advertising on sales: A co-integration perspective|
|Authors:||Leong, S.M. |
|Source:||Leong, S.M.,Ouliaris, S.,Franke, G.R. (1996). Estimating the long-term effects of advertising on sales: A co-integration perspective. Journal of Marketing Communications 2 (2) : 111-122. ScholarBank@NUS Repository.|
|Abstract:||Co-integration econometrics have important theoretical advantages over more traditional approaches to estimating the long-term effects of one variable on another. When advertising and sales data are co-integrated, adaptations of common econometric procedures may be used to estimate the long-term effects directly rather than inferring them from short-term relationships. This paper presents a method for detecting and estimating co-integrating relationships using ordinary least-squares regression procedures. The method is illustrated with the well-known Lydia Pinkham data from 1907 through to 1961. The results show that there was a strong positive relationship between Lydia Pinkham advertising and sales in the long-term. Implications of the method and findings are discussed.|
|Source Title:||Journal of Marketing Communications|
|Appears in Collections:||Staff Publications|
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